What is vesting? How should I take title?
Vesting is the manner in which you hold title to the timeshare interest you purchase. This can have serious tax consequences and it is strongly recommended that you seek tax or legal counsel when choosing your vesting. You can hold title as an individual, as husband and wife, as a co-ownership, as community property/joint tenants/tenants in common, in a trust, in a company, etc. Each way you hold title offers different possession rights and successor rights.
Related Questions
- What type of approval does a lender need to originate and/or underwrite and/or service Title II Single Family Loans, including HECMs (Reverse Mortgages) or 203k (Rehabilitation mortgages)?
- How does a Lender who is already Title I or Titel II approved obtain the other approval?
- What is the difference between Title I and Title II lender approvals?
